Niag reaches the settlement of $ 200 million with Novigratz’s Cripto Bank Bank Galaxy Digital Over Luna Sales

The Galaxy Digital Digital Digital Digital Michael Newgratz will pay $ 200 million for charges promoting Luna while selling millions of tokens before collapse tokens.

Galaxy DigitalCripto investment firm founded by Michael Novogratzagreed to the settlement of $ 200 million with the prosecutor in New York against the charges of the charges promoted algorithmic cryptocurrency Luna (Luna) Although you sell millions of tokens quietly to profit. The firm did not recognize or deny allegations.

The settlement, pointed out in a submission From Niag, he claims that Galaxy bought Luna 2020. years. At the same time, he promoted and sold his farms without detecting intentions to sell, thus violating Martin’s work and New York executive, according to Niag.

In the settlement agreement, the regulator says that Michael Novogratz was among the strongest messenger in Luna, admitting in a moment that the galaxy was “helped” Kickstart “in the Luna with their marketing efforts.”

Although publicly expressing trust in Luna, Galaxy almost sold “millions of chips on the market in many many initial costs without discovering that sales,” it was “.

Galaxy allegedly bought 18.5 million Luna tokens at a discount and sold most of them in tranches, bringing over 100 million dollars to March 2022. Years. While Luna collapsed in May 2022. year, the galaxy had already caused almost the whole position. “Finally, Galaxy helped to increase its market price from $ 0.31 in October 2020. April 2022, while used in hundreds of millions of dollars,” Niag claims.

According to the settlement, Galaxy will pay $ 200 million for three years, starting $ 40 million in two weeks. The company also agreed to implement policies to prevent conflicts of interest, including the legal analysis of token investments and promotional statements. From time to print, Galaxy Digital did not give public statements about the issue.